Monday, February 28, 2011

Market had a volatile trading session, the NSE 50-Share indices which had soared by more than 150 points in the aftermath of the PM’s speech, surrendered more than 100 points. The S&P CNX Nifty close at 5333.35, up by 29.70 points or 0.56 %.

The NSE futures closed at 5338, up by 24.20 points or 0.46 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5230 else above 5505 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5505 & above this level the next resistance is seen near the 5590 mark. SUPPORT: It has first support close to the level of 5230 & below this level the next support is seen near 5175 mark.

Bank Nifty Futures shut stop at 10443, down -11.95 points or -0.11 %.It is looking bearish in the coming trading session if it manages to trade below the support level of 10260 else above 10800 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10800 & above this level the next resistance is seen near to the level of 11000 SUPPORT: It has first support close to the level of 10260 & below this level the next support is seen near 10170 marks.

Friday, February 25, 2011

Market had a volatile trading session due to railway budget and economic survey. The S&P CNX Nifty close at 5303.55, up by 40.85 points or 0.78 %. The market rallied in the later part of the session to end the session on a positive note.

The NSE futures closed at 5238, up by 48.65 points or 0.92 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5175 else above 5350 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5350 & above this level the next resistance is seen near the 5430 mark. SUPPORT: It has first support close to the level of 5175 & below this level the next support is seen near 5090 mark.

The banking index CNX Bank Index gained 225.10 points or 2.20 % after the Economic Survey proposed to consider separate licenses for basic and full banking services. Among the other banking plays, Canara Bank, Axis Bank, Bank of Baroda, Bank of India, State Bank of India, Union Bank of India, IDBI Bank and Punjab National Bank gained in the region of 2-4.5 % each.

Bank Nifty Futures shut stop at 10491.10, up 236.80 points or 2.31 %.It is looking bearish in the coming trading session if it manages to trade below the support level of 10260 else above 10520 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10520 & above this level the next resistance is seen near to the level of 10640.

SUPPORT: It has first support close to the level of 10260 & below this level the next support is seen near 10030 marks.

Thursday, February 24, 2011

The NSE benchmark S&P CNX Nifty battered down to 5262.70 levels from 5430 level, almost 172.85 points or -3.18 % due to renewed concerns on geopolitical front, spike in crude oil prices, a jump in inflation and caution ahead of the railway budget. The rate-sensitive banking, auto and realty sectors received a severe downfall in this session.
The Nifty Futures closed to 5262.90, down by 172.85 or -3.18 %.The Indian VIX which is currently at 28.20 and it was up by 1.65 points or 6.21 %. It indicates that the market will continue to be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5430 & above this level the next resistance is seen near the 5510 mark.

SUPPORT: It has first support close to the level of 5175 & below this level the next support is seen near 5090 mark.

A severe battering in banking sector made Bank Nifty Futures shut stop at 10210.60, down by -455.05 or 4-4.27 %. The State Bank of Travancore, State Bank of Mysore and State Bank of Bikaner & Jaipur were down by 12.68 %, 10.89 % and 10.48 % respectively. It is looking bearish in the coming trading session if it manages to trade below the support level of 10135 else above 10520 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 10520 & above this level the next resistance is seen near the 10640 mark. SUPPORT: It has first support close to the level of 10135 & below this level the next support is seen near 10030 marks.

Wednesday, February 23, 2011

S&P CNX Nifty closed on a negative note following weak global cues and ongoing strife at Libya. Banks, technology and realty stocks were the top sectoral losers while auto and oil gas space ended higher.
The NSE benchmark indices closed 5437.35, down by -31.85 or -0.58 %. %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5395 else above 5520 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5520 & above this level the next resistance is seen near the 5600 mark.

SUPPORT: It has first support close to the level of 5395 & below this level the next support is seen near 5335 mark.

After a volatile trading session Bank Nifty Futures shut stop at 10668, down -172.15 points or -1.59 %.In banking sector most of scrip were down by 2-4 $. It is looking bearish in tomorrow trading session if it manages to trade below the support level of 10640 else above 10880 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10880 & above this level the next resistance is seen near the 11000 mark.

SUPPORT: It has first support close to the level of 10640 & below this level the next support is seen near 10480 marks.

Tuesday, February 22, 2011

Civil unrest in Libya and negative global clue made The S&P CNX NIFTY closed at 5476.10, down by 52.05 points or -0.94 %. The Indian VIX which is currently at 26.85 and it was up by 1.94 points or 7.79 %. It indicates that the market will continue to be in a downward trend.

NIFTY Futures closed at 5476.10, down by 52.05 points or -0.94 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 5395 else above 5540 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5540 & above this level the next resistance is seen near the 5600 mark.

SUPPORT: It has first support close to the level of 5395 & below this level the next support is seen near 5330 mark.

Bank Nifty Futures shut stop at 10835, down 235.90 points or -2.13 %. In banking sector majority of scrip were negative and closed into red. It is looking bearish in the coming trading session if it manages to trade below the support level of 10690 else above 11100 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 11100 & above this level the next resistance is seen near the 11280 mark.

SUPPORT: It has first support close to the level of 10760 & below this level the next support is seen near 10690 marks.

Monday, February 21, 2011

After a sell off on Friday market staged a smart recovery and closed above the 5500 market. The S&P CNX NIFTY closed at 5518.60, up by 59.65 points or 1.09 %. The Indian VIX which is currently at 24.91 and it was up by 0.73 points or 3.01 %. It indicates that the market will continue to volatile in the short term.

NIFTY Futures closed at 5531.05, up by 77.40 points or 1.42 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5547 else below 5400 it would be in a bearish trend.

RESISTANCE: It has first resistance close to the level of 5547 & above this level the next resistance is seen near the 5600 mark.

SUPPORT: It has first support close to the level of 5400 & below this level the next support is seen near 5340 mark.

Bank Nifty Futures shut stop at 11081, up 154 points or 1.41 %.In banking sector majority of scrip were positive and closed into green. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11135 else below 10780 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 11135 & above this level the next resistance is seen near the 11280 mark. SUPPORT: It has first support close to the level of 10780 & below this level the next support is seen near 10690 marks.

Friday, February 18, 2011

The market snapped five days winning streak the benchmark indices closed into red. The S&P CNX NIFTY surrendered 87.50 points and it closed above the major support level of 5450.The Indian VIX which is currently at 24.18 and it was up by 1.61 points or 7.13 %. It indicates that the market will continue to volatile in the short term.

NIFTY Futures closed at 5453.65, down by 92.65 points or 1.67 %. It is looking bearish in the coming trading session if it manages to break the support level of 5400 else above 5550 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5550 & above this level the next resistance is seen near the 5590 mark.

SUPPORT: It has first support close to the level of 5400 & below this level the next support is seen near 5340 mark.

Bank Nifty Futures shut stop at 10927, down 203.40 points or -1.83 %.In banking sector majority of scrip battered down by 2-4 %. It is looking bearish in the coming trading session if it manages to trade below the support level of 10880 else above 11130 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 11130 & above this level the next resistance is seen near the 11280 mark. SUPPORT: It has first support close to the level of 10880 & below this level the next support is seen near 10675 marks.

Last week the Nifty Index ended with gains of 2.80% at 5458.95. On the derivatives front we have seen that the Nifty Futures prices slipped along with an overall addition of open interest and decline in the cost of carry, this is an indication of some shorts being built in it at higher levels. For the coming week, Resistance for Nifty is seen at 5600/5750 whereas on the downside immediate Support for the Index is seen at 5400-5367 levels, below these levels the next support is seen at 5340/5277 levels.

Bank Nifty Weekly Outlook -

Last week the Bank Nifty Index showed a smart pullback from its 10000 levels and ended with gains of 4.80% at 10949.70. On the derivatives front we have seen that the Bank Nifty Futures prices have ended with gains along with an overall addition of open interest and decline in the cost of carry, this is an indication of some shorts being built at higher levels. For the coming week, immediate Resistance for Bank Nifty is seen at 11257 levels, above this level the next resistance is seen at 11547/11890 whereas on the downside support for the Index is seen near 10373 levels.

Thursday, February 17, 2011

On the back of a drop in food inflation number the benchmark indices closed into green. The S&P CNX NIFTY closed at 5546.45, up 64.75 points or 1.18 %. The Indian VIX which is currently at 22.57 and it was up down by 2.08 % or-0.48. It indicates that the market will continue to volatile in the short term.

Nifty Futures closed at 5549.95, up by 64.70 points or 1.18%. It is looking bullish in the coming trading session if it manages to break the resistance level of 5566 else below 5520 it would be in a bearish trend.

RESISTANCE: It has first resistance close to the level of 5566 & above this level the next resistance is seen near the 5625 mark.SUPPORT: It has first support close to the level of 5520 & below this level the next support is seen near 5450 mark.

Bank Nifty Futures closed at 11138.70, up 172.45 points or 1.57 %.In banking sector index scrip HDFC Bank and IDBI Bank lead the row. Indian Overseas Bank gained 6.85 points or 5.34 % respectively. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11265 else below 10890 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 11265 & above this level the next resistance is seen near the 11440 mark.

SUPPORT: It has first support close to the level of 10890 & below this level the next support is seen near 10700 marks.

Wednesday, February 16, 2011

Market turned to sidelines after three consecutive bullish trading sessions which pushed the market up 4.6 %. The S&P CNX NIFTY closed at 5481.70, up 0.70 points or 0.01 %. The Indian VIX which is currently at 23.05 and it was up by 0.88 % or 0.20 points indicates that the market will continue to volatile in the short term. NIFTY Futures closed at 5494, up by 17.90 points or 0.33 %. It is looking bullish in the coming trading session if it manages to break the resistance level of 5566 else below 5450 it would be in a bearish trend.RESISTANCE: It has first resistance close to the level of 5566 & above this level the next resistance is seen near the 5625 mark.

SUPPORT: It has first support close to the level of 5450 & below this level the next support is seen near 5400 mark.

Bank Nifty Futures closed at 10966.25, up 30.25 points or 0.28 %.In banking sector index scrip South India Bank and Axis Bank lead the row. Dhanlaxmi Bank and City Union Bank gained 4.62 % or 1.15 % respectively. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11040 else below 10690 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 11040 & above this level the next resistance is seen near the 11265 mark.

SUPPORT: It has first support close to the level of 10690 & below this level the next support is seen near 10480 marks.

Friday, February 11, 2011

The benchmark indices bounced back from the psychological level of 5200 and closed. The S&P CNX Nifty shut shop at 5310, up 84.20 points or 1.61 %. The Indian VIX which is currently at 23.47 and it was down by 1.35 points or -5.43 % indicates that the market will continue to volatile in the short term.
NIFTY Futures closed at 5312.90, up by 83.75 or 1.58 %. It is looking bullish in the coming trading session if it manages to break the resistance level of 5350 else below 5170 it would be in a bearish trend.

RESISTANCE: It has first resistance close to the level of 5350 & above this level the next resistance is seen near the 5420 mark.SUPPORT: It has first support close to the level of 5170 & below this level the next support is seen near 5135 mark.

Bank Nifty Futures closed at 10465, up 370.25 points or 3.67 %.In banking sector index heavy weighted PNB, ICICI, AXIS lead the row. South Indian bank and ING Vysya Bank gained 7.10 % or 6.51 % respectively. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 10515 else below 10010 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 10515 & above this level the next resistance is seen near the 10800 mark.

SUPPORT: It has first support close to the level of 10010 & below this level the next support is seen near 9950 marks.

Thursday, February 10, 2011

Market had a volatile trading session with the trading range of 70-80 points, intraday pullback attributed to the heartening decline in food inflation. The S&P CNX Nifty shut shop at 5225.80, down 27 points or –0.35 %. The Indian VIX which is currently at 24.82 and it was down by 1.66 % % or -0.42 points indicates that the market will continue to volatile in the short term.
NIFTY Futures closed at 10095, down 35.95 or -0.35 %. It is looking bearish in the coming trading session if it manages to break the support level of 5211 else above 5300 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5300 & above this level the next resistance is seen near the 5350 mark. SUPPORT: It has first support close to the level of 5211 & below this level the next support is seen near 5138 mark.

Bank Nifty Futures closed at 10095, down 35.95 points or -0.35 %.In banking sector index heavy weighted SBI and PNB weakened by 86.90 or -3.37 % and 10.95 or -1.05 % respectively. Bank like United Bank of India and ING Vysya bank lead the row with 6.73 % or 3.99 % up respectively. It is looking bearish in the coming trading session if it manages to trade below the support level of 10010 else above 10325 it would be in an upward trend.

RESISTANCE: It has first resistance close to the level of 10325 & above this level the next resistance is seen near the 10430 mark.

SUPPORT: It has first support close to the level of 10010 & below this level the next support is seen near 9950 marks.

Wednesday, February 9, 2011

Benchmark Indies S&P CNX NIFTY plummets by 59 points or 1.11 %, in today’s trading session market was volatile with negative bias. The Indian VIX which is currently at 25.24 and it was up by 2.02 % or 0.50 points indicates that the market will continue to volatile in the short term.

NIFTY Futures closed at 5282.05, down 32.40 or 0.61 %. It is looking bearish in the coming trading session if it manages to break the support level of 5206 else above 5350 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5350 & above this level the next resistance is seen near the 5425 mark.

SUPPORT: It has first support close to the level of 5206 & below this level the next support is seen near 5140 mark.

Bank Nifty Futures closed at 10180, up 29.90 points or 0.29 %.In bank sector majority of stocks was down by 2%- 6%, Dena Bank, United Bank Of India, Canara Bank, Axis Bank lead the row. It is looking bearish in the coming trading session if it manages to trade below the support of 10035 else it has resistance at 10430 above this level it would be bullish in trend.

RESISTANCE: It has first resistance close to the level of 10430 & above this level the next resistance is seen near the 10520 mark.

SUPPORT: It has first support close to the level of 10035 & below this level the next support is seen near 9955 marks.

Tuesday, February 8, 2011

Benchmark Indies S&P CNX NIFTY ended in red and closed below crucial support levels of 5350. It was down by 83.45 points or 1.55 %. The Indian VIX which is currently at 24.74 and it was up by 0.20 % % or 0.05 points indicates that the market will continue to volatile in the short term.
NIFTY Futures closed at 5320, down 74.05 or 1.37 %. It is looking bearish in the coming trading session if it manages to break the support level of 5225 else above 5445 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5445 & above this level the next resistance is seen near the 5566 mark. SUPPORT: It has first support close to the level of 5225 & below this level the next support is seen near 5170 mark.

Bank Nifty Futures closed at 10160, down 215.65 points or 2.08 %.In bank sector some of stocks was down by 3%- 6%, ING Vysya, Kotak Mahindra Bank, united bank of India lead the row. It is looking bearish in the coming trading session if it manages to trade below the support of 10095 else it has resistance at 10430 above this level it would be bullish in trend.

RESISTANCE: It has first resistance close to the level of 10430 & above this level the next resistance is seen near the 10600 mark.

SUPPORT: It has first support close to the level of 10095 & below this level the next support is seen near 9950 marks.

Monday, February 7, 2011

Benchmark Indies S&P CNX NIFTY (NSE Index) ended in the green despite of selling pressure intensified in the last half an hour of trade and closed above 5400 mark. It was up by 0.25 points. The Indian VIX which is currently at 24.69 and it was up by 0.28 % % or 1.14 points indicates that the market will continue to volatile in the short term.
NIFTY Futures closed at 5405.05, up 18.05 or 0.34 %. It is looking bearish in the coming trading session if it manages to break the support level of 5350 else above 5566 it would be in a bullish trend.

RESISTANCE: It has first resistance close to the level of 5566 & above this level the next resistance is seen near the 5622 mark. SUPPORT: It has first support close to the level of 5350 & below this level the next support is seen near 5300 mark.

Bank Nifty Futures closed at 10399, down 23.80 points or 0.23 %.In bank sector some of stocks was down by 2%- 5%, PNB, Central Bank of India, Oriental Bank of Commerce lead the row. It is looking bearish in the coming trading session if it manages to trade below the support of 10385 else it has resistance at 10760 above this level it would be bullish in trend.

RESISTANCE: It has first resistance close to the level of 10760 & above this level the next resistance is seen near the 10850 mark. SUPPORT: It has first support close to the level of 10340 & below this level the next support is seen near 10272 marks.

Friday, February 4, 2011

Benchmark Indies S&P CNX NIFTY ended in the negative terrain as selling pressure intensified in the last half an hour of trade. It was down by 131 points or 2.37 %. The Indian VIX which is currently at 24.41and it was up by 7.58 % or 1.72 points indicates that the market will continue to volatile in the short term.
NIFTY Futures closed at 5382, down 156.95 or 2.83 %. It is looking bearish in the coming trading session if it manages to break the support level of 5350 else above 5566 it would be in a bullish trend.

Bank Nifty Futures closed at 10404, down 297.70 points or 2.78 %.In bank sector majority of stocks was down by 2%- 3%, Vijay bank, Syndicate Bank and ICICI bank lead the row. It is looking bearish in the coming trading session if it manages to trade below the support of 10385 else it has resistance at 10760 above this level it would be bullish in trend.

Thursday, February 3, 2011

Market shrugged off the news of spike in inflation and high interest worries the benchmark S&P CNX NIFTY gained 94.75 points or 1.74 % and SENSEX gained 358.69 points or 1.98 %.

Nifty futures from the last few trading session moving in a particular range of 5410-5550. It is now taking resistance at 5550/5625 and support at 5410/5350. Nifty is looking positive in the coming trading session if it manages to trade above the resistance level of 5550 else below 5625 it would might face more selling pressure.

RESISTANCE: It has first resistance close to the level of 5550 & above this level the next resistance is seen near the 5625 mark.

SUPPORT: It has first support close to the level of 5410 & below this level the next support is seen near 5350 mark.

Bank Nifty futures gained 204.45 points or 1.95 % from the last few trading it is moving in a particular price range of 10760-10440. If it sustain below 10440 levels it would be in a bearish trend else above 10760 it would be in a bullish trend.RESISTANCE: It has first resistance close to the level of 10760 & above this level the next resistance is seen near the 10900 mark. SUPPORT: It has first support close to the level of 10440 & below this level the next support is seen near 10272 marks.

Wednesday, February 2, 2011

Nifty future is moving under a tight range 5542-5411 from last 3 trading session and closed near to its support level. If Nifty future is manages to sustain below 5411 level it can take more down fall in coming trading session. One should adopt the strategy of sell at higher level. Support for Nifty Future is at 5400/5350 and it has Resistance at 5542/5622 levels.

RESISTANCE: It has first resistance close to the level of 5542 & above this level the next resistance is seen near the 5622 mark. SUPPORT: It has first support close to the level of 5400 & below this level the next support is seen near 5350 mark.

Bank Nifty is not sustaining at higher level and closed near to its days low. If it sustain below 10385 level its dawn fall will continue, in coming trading session One should adopt the strategy of sell at higher level. Support for Bank Nifty future is at 10385/10300 and it has Resistance at 10640/10722 levels.

RESISTANCE: It has first resistance close to the level of 10640 & above this level the next resistance is seen near the 10722 mark.

SUPPORT: It has first support close to the level of 10385 & below this level the next support is seen near 10300 marks.

Tuesday, February 1, 2011

Indian equity Indices ended in the deep red toda. 50-share index Nifty touched intraday low of 5402 and the 30-share index Sensex touched a low of 17982.17. S&P Nifty managed to hold back the 5400 mark and Sensex close below the 18000 level.
On the back of consistent sell off for 5th consecutive trading session Nifty future made a low of 5411.20 and it managed to hold back psychological level of 5400.

Resistance – 5545/5600Support – 5350/5300

Nifty futures is showing a good support at 5350, once this level is cross it might face more selling pressure which can make the nifty to test the level of 5300 else it has major resistance at 5545 above this level nifty would be in a bullish trend.

Banking stocks and indices trades with bearish sentiment in today’s trading session Bank Nifty Futures closed at 10493.45, with loss of 178.65 points or 1.67%. Due to chaos related to the fear of rising interest rate and inflation resulted in out flow of FII money seen and panic selling Banking sector.

Resistance – 10570/10730Support – 10380/10100

Bank nifty is looking bearish in the coming trading session if it manages to break the support level of 10380 below this level it might test the level of 10100 else above 10570 aggressive buying can make it to test the level of 10730.

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The usage of this blog confirms to the policy that the investment in stock market has inherent risks and author or his clients may or may not be following the recommended tips.The author will not be held responsible for any loss incurred by following the advice.